SourcingAug 23, 2023
692-Carat Diamond Recovered From Karowe Mine SourcingSep 11, 2023
Greenland Ruby Has Shut Down Its Mine
The company said operations have been on hold since January because the mine wasn’t meeting production expectations.
This file photo shows a Greenland Ruby worker holding a piece of rough from the mine. The company’s Aappaluttoq ruby and pink sapphire mine has suspended operations, but it is exploring other sources, reports say.
New York—Greenland Ruby has suspended operations at its Aappaluttoq ruby and pink sapphire mine because it wasn’t producing enough gemstones.
GemGuide, which was first to report the news in the trade, published a story back in August quoting Greenland Ruby Chief Commercial Officer Hayley Henning, who said production at the site hadn’t been meeting expectations for the past year or so.
Michele Billam, the company’s chief sales and merchandising officer told JCK last week that mining operations had been suspended for care and maintenance since January.
Henning referred all questions about the reports to Greenland Ruby CEO Arnt Erick Rørnes, who did not respond to an email request for comment by deadline.
Greenland newspaper Sermitsiaq reported last month the mine had a debt of 509 million Danish kroner, which is about $73 million at current exchange rates.
The company has closed offices and let go of employees.
The mine laid off 30 workers at the beginning of the year and later let go of the remaining seven, according to Sermitsiaq.
In a 2017 National Jeweler interview with Henning, she said life of mine for Aappaluttoq was expected to be about nine years.
She also said exploration identified two other potential sites for ruby mining, but at that time, the company was “not really there yet” in terms of moving forward at the sites.
Billam told JCK that exploratory mining had begun at two sites for which the company holds licenses.
In addition to exploration, there is still rough material to be processed and ruby inventory is still stocked in Thailand, but “sales have been very low,” according to Billam.
Related stories will be right here …
GemGuide, which was first to report the news in the trade, published a story back in August quoting Greenland Ruby Chief Commercial Officer Hayley Henning, who said production at the site hadn’t been meeting expectations for the past year or so.
Michele Billam, the company’s chief sales and merchandising officer told JCK last week that mining operations had been suspended for care and maintenance since January.
Henning referred all questions about the reports to Greenland Ruby CEO Arnt Erick Rørnes, who did not respond to an email request for comment by deadline.
Greenland newspaper Sermitsiaq reported last month the mine had a debt of 509 million Danish kroner, which is about $73 million at current exchange rates.
The company has closed offices and let go of employees.
The mine laid off 30 workers at the beginning of the year and later let go of the remaining seven, according to Sermitsiaq.
In a 2017 National Jeweler interview with Henning, she said life of mine for Aappaluttoq was expected to be about nine years.
She also said exploration identified two other potential sites for ruby mining, but at that time, the company was “not really there yet” in terms of moving forward at the sites.
Billam told JCK that exploratory mining had begun at two sites for which the company holds licenses.
In addition to exploration, there is still rough material to be processed and ruby inventory is still stocked in Thailand, but “sales have been very low,” according to Billam.
Greenland Ruby had been producing rubies as well as pink sapphires at the Aappaluttoq ruby mining site in the southwest region of Greenland since 2017. It’s the country’s first corundum mine.
The area originally was being mined by True North Gems, but following its announcement of voluntary bankruptcy in September 2016, the mining license for the Aappaluttoq Ruby Mine was awarded to LNS Greenland, an investor in the project.
Greenland Ruby A/S, its sister company, was established in October 2016 to take over the exploration license and handle the promotion and sales of the mine’s output.
A 2019 GemGuide article by Stuart M. Robertson, GIA GG, said Greenland Ruby’s acquisition of the necessary permits to export and market gemstones allowed commercial quantities of these rubies and sapphires to enter the international gem trade.
He said a combination of the stones’ affordable price point, which started at below $100 per carat, along with their mine-to-market traceability, made Greenland rubies attractive to the market.
In January of this year, Greenland Ruby announced it had appointed Rørnes, who was previously working with parent company Leonhard Nislen & Sonner AS (LNS), as its new CEO.
He succeeded Magnus Kibsgaard.
More on Sourcing
The Latest
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsThe company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready BroochDesigner Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ ListExpanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New StoreLocated in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV SeriesThe episode about the family-owned jeweler will premiere May 17.
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in AustinThe Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to AuctionThe turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise RingSet with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.
MajorsMay 02, 2025
Stuller’s New Bridal Catalog Is Here“Bridal 2025–2026” includes popular styles and a dedicated section for quick pricing references of lab-grown diamond bridal jewelry.
SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple EffectThough currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.
MajorsMay 01, 2025
Peek Inside David Yurman’s New Miami Flagship StoreLocated in Miami’s Design District, the 4,000-square-foot store is an homage to David and Sybil Yurman’s artistic roots.
TrendsMay 01, 2025
Amanda’s Style File: 20 Pieces of Emerald Jewelry for MayMay babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.
MajorsMay 01, 2025
Jewelers of America Opens Applications for 2025 ScholarshipsThe deadline to apply for the Seymour & Evelyn Holtzman Bench Scholarship is June 12.
SurveysApr 30, 2025
Consumer Confidence Hits Pandemic-Level Low Amid Tariff ConcernsWhat’s really worrying U.S. consumers isn’t the present situation; it’s what the economy is going to look like six months from now.
Events & AwardsApr 30, 2025
Instore Show Debuts New Name, Look, and FocusNow called The Instore Jewelry Show, it will include holiday-focused education, interactive workshops, and a window display contest.
SourcingApr 30, 2025
GemGuide Has a New Pricing Chart for Colombian EmeraldsIt includes pricing for unenhanced Colombian emeralds in the fine to extra fine range.
